Business Strategies: Increasing Brand Trust Among Utility Customers Lowers Costs and Turnover

Abstract

Interactions between utilities and customers have evolved over time from those that were once largely transactional and service-based to those that are now initiative- and relationship-oriented. This migration makes it clear that new tools for measuring the full strength of a utility's bond with customers are needed. Accordingly, research recently completed by Market Strategies International indicates that in addition to delivering on traditional operational satisfaction and product experience, utilities must deliver on a third factor—brand trust—if they are to develop strong and engaged relationships with their customers.